Azoff sued the Guns N’ Roses frontman in March, 2010, accusing the singer of reneging on an agreement to hand him a slice of profits from a big money concert tour.

Rose hit back with a countersuit, alleging Azoff attempted to sabotage his career after he refused to reunite with the band’s original members, including Slash and Duff McKagan. He demanded more than $5 million in damages for breach of fiduciary duty, constructive fraud and breach of contract.

However, the two warring parties have now reached a deal to prevent the case from going to trial.

Attorneys for both sides appeared in Los Angeles Superior Court on Tuesday to inform a judge of the settlement, with Azoff’s lawyer, Howard King, stating, “They (lawsuits) were settled to the mutual satisfaction of the parties.”

The terms of the agreement have not been revealed, although legal papers filed by Rose’s lawyers state that the deal would involve “a comprehensive touring agreement, in which Guns ‘N Roses would perform at various… venues.”